DKG LIVING Real Estate BlogRecently posted or modified blog posts by tag - Market Updatehttps://www.donnakerrgroup.com/blog/Copyright DonnaKerrGroup.com2023-09-25T19:02:40-07:00tag:donnakerrgroup.com,2012-09-20:7506Simplified Steps Toward HomeownershipWe’re Ready To Guide You Toward Homeownership In Maryland, DC, and Virginia
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If homeownership has always been your dream but you’re not sure where to start, we’re ready to help you navigate the process toward getting the keys to your first home in your hands. Donna Kerr Group answers first-time home buyers and hopeful homeowners' top questions as they begin the home buying process.
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“I’d like to buy a home, but I don’t know where to start and I’m not sure if I’m ready. Do you think I should still reach out to an agent?” - Kate, Silver Spring MD
While some will suggest that first-time homebuyers should wait to talk to Realtors until they’re ready to buy a home, at Donna Kerr Group, we know the right realtor requires your trust. A realtor does more than help you find the right home. The right agent will help you customize and navigate your path to homeownership and give you the best resources for all facets of the process from lenders to neighborhood knowledge. While there is no one-size-fits-all solution to homeownership, the right agent is vital for the leadership you deserve through the entire home buying process. Looking to start your journey toward preparing for homeownership? <a href="https://www.donnakerrgroup.com/contact/">Click here</a> so we can connect you with the perfect agent for you and help you get started.
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“I don’t know how much I can afford to spend on a home. How do I figure out how much to save?” -Tyler, Bethesda MD
You are not alone. The number one inhibiting factor we hear from people who believe they cannot become a homeowner is financing. Gone are the days of a required 20% down payment for a first-time homebuyer. In fact, some programs allow for as little as a 2% down payment. While there are other costs in closing for a home, a good lender will be able to help you create a realistic and approachable plan to guide you toward your homeownership goal. Whether it’s building a plan for saving, identifying how much you can afford to pay for a home, or simple ways to boost your credit score as you save, an online calculator can only guide you so much. Ask your realtor for their suggested lender for a first-time homebuyer. Rest assured, the highest down payment offer is not always the winning offer on a home. Donna Kerr Group can help a buyer remain competitive in the real estate market even with a downpayment under 10%. To learn more about the pre-approval process and to connect with a lender, <a href="https://www.donnakerrgroup.com/buyers/mortgage-pre-approval/">click here</a>.
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“ I’m trying to decide if I should buy a home now. Is it always an investment to buy instead of rent?” Jennifer, Kensington MD
Being able to customize and update your home to your personal taste may be a perk to homeownership, but the biggest reason we hear people desiring to purchase a home is the investment they are hoping to make. Beyond the rent money disappearing rather than going toward something you own, mortgage tax deductions will save you money. Your home value may go up as you continue to love it through the years. The bottom line is owning a home adds monetary and emotional value to your life in a way that renting simply won’t. Even still, homeownership may not be right for your lifestyle. For further guidance on this decision, be sure to <a href="https://www.donnakerrgroup.com/buyers/download-the-ultimate-buying-guide/">download our Ultimate Buyers Guide e-book</a>.
Between your new teammates: your lender and your real estate agent, we hope you find empowerment in knowing homeownership truly is possible for you. For more first-time home buying questions answered, be sure to read our <a href="https://www.donnakerrgroup.com/buyers/first-time-buyers/">Home Buying FAQ’s</a>.2023-09-26T06:00:00-07:002023-09-25T19:02:40-07:00Lifestyle Teamtag:donnakerrgroup.com,2012-09-20:9940Ask An Agent: Top Real Estate Questions and Answers For Today’s MarketDonna Kerr Group agents discuss some of the biggest questions about real estate from clients in Silver Spring, Kensington, Bethesda, DC, and beyond.
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The real estate market in the DC metro area continues to boom. This surge in real estate success has created new opportunities and questions for buyers and sellers in the area. Broker and agent <a href="https://www.donnakerrgroup.com/agents/donna-kerr/" target="_blank">Donna Kerr </a>answered some of the top questions they hear from clients in today’s market.
“Homeownership is my ultimate dream, but I'm worried I won't be able to afford it.” - Beth in Silver Spring
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It’s a misconception that homeownership is not attainable for many. In fact, <a href="https://www.nerdwallet.com/article/mortgages/payment-buy-home">73% of future homebuyers</a> are unaware of low-down-payment mortgage options (some as low as 3%) and still believe they need the traditional 20% down payment to buy a home. Through down payment programs, first time home buyer programs, and more, it’s more possible than ever for many Americans to become homeowners.
Worried your offers won’t be considered in a competitive market? The truth is the right agent has local expertise and the skills to help you submit a winning offer with any sort of mortgage plan. It’s just one of the many reasons choosing the right <a href="https://www.donnakerrgroup.com/about/about/">agent</a> is vital.
“I love Donna Kerr Group’s home transformations, but in this real estate market, I have to wonder: Are staging and updates really worth it?” - Alison in Bethesda
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It is a prime market for sellers in the DC metro area. With homes selling so quickly, styling a home for sale may feel unnecessary. However, our team handles everything in the home transformation process for you in a swift, cost-effective, and strategic way.
Our <a href="https://www.donnakerrgroup.com/sellers/signature-listing-process/">Signature Listing Process</a>, includes not only two agents but a team of in-house designers to transform our listings in simple and effective ways like a fresh paint palette, on-trend light fixtures, and a quick refresh in the areas that will maximize your return on investment. These changes significantly improve the bottom line.
The homes we list sell for an average of $22+ per square foot more than non-Donna Kerr Group listings in our main market. Even better, clients don’t have to worry about the process because we manage it for them from start to finish. Your home shines, you earn more on your sale, and our team is there guiding the process every step of the way. Why leave additional money on the table when you can increase your return in a process that typically takes one to three weeks? That’s why, Alison, our team answers with a resounding, “YES!”
“Hi, I think I'm ready to buy my first home, but I'm nervous with this market. Any advice?” -Jacob in Kensington
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First, Jacob, know that you are not alone being nervous about buying your first home. In terms of timing, the reality is there are many factors that make it a great time to be a buyer. Interest rates are great, home prices are only continuing to climb, and the right agent will advocate for you and help you get into a home you’ll love for years to come.
We are always here to help and would love to answer your real estate questions. Just send them to us <a href="https://www.donnakerrgroup.com/contact/">here</a>, and we may feature you in an upcoming Ask an Agent.
For more information about <a href="https://www.donnakerrgroup.com/sellers/sell-for-more/">selling your house for more</a> or to find out <a href="https://www.donnakerrgroup.com/sellers/whats-your-home-worth/">how much your home is worth</a>, <a href="https://www.donnakerrgroup.com/contact/">our team is ready to serve you</a>.
Ready to buy a home in Maryland, DC or Virginia? We’re ready to help! <a href="https://www.donnakerrgroup.com/contact/">Contact us</a> today so we can help you find the perfect place to call home.2023-05-10T18:00:00-07:002023-05-11T07:57:23-07:00Donna Kerrtag:donnakerrgroup.com,2012-09-20:7874I’m A Renter. How Much Home Can I Afford For $3000 A Month?Donna Kerr Group Agents Maura Fitzgerald and Jim Holland answer one of the top questions renters and potential homeowners face in the DC metro area.
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As Realtors, we are often asked that very question. Many people want to start the financial investment in their future but have no idea how much home they can purchase based on their current rent. To help answer that question, we took a look at what a renter might pay and then different home options that would fit that budget in a mortgage payment.
There is a wide range in what the “average” renter in the DC metro area pays monthly for a two-bedroom space, with figures ranging from the <a href="https://www.zumper.com/rent-research/rockville-md">low $2,000s</a> to <a href="https://www.apartmentlist.com/renter-life/average-rent-in-washington-dc">the $3,000 on up</a>. To make it simple, we showcase homes that would translate to roughly $3,000 in a mortgage payment. Just remember that interest rates fluctuate and other factors can affect your actual payment, but these examples are a good starting point.
As you might imagine, there is quite a range depending on personal preference from a condo in DC to space to spread out in the suburbs. Join us as we take a look at the range of possibilities!
Our first property is a condo in the heart of DC and is truly a spectacular find.
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With just under a thousand square feet, this two-bedroom penthouse condo has it all: Beautiful hardwood floors, an open concept living room with a wood-burning fireplace, and a spectacular view from the balcony.
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The home features a true owner’s suite with soaring cathedral ceilings, an expansive walk-in closet, and a full en-suite bathroom.
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Garage parking, additional storage, and a prime location moments from the metro and a wide variety of shops and restaurants make this condo a perfect place to call home.
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This home was listed for $599,000. If a buyer put a little over 10% down, their monthly mortgage payments could be close to their current rent.
Alternatively, a single-family home in Silver Spring may be the ideal place to call home.
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This quintessential Cape Cod has about 1,600 square feet and is on a quarter of an acre of land. If you’re looking for a fenced-in yard or some extra bedrooms, this home is the perfect option.
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With a light-filled den, a timeless wood-burning fireplace, and a refreshed kitchen with quartz countertops, this home boasts some major selling points.
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Located just around the corner from Argyle park, a mile from Forest Glen Metro station, and minutes away from local restaurants and downtown Silver Spring, this home has a lot to offer!
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Listed at $500,000, this home could be well within your budget.
As we conclude our investigation, our team takes a look at another beautiful center hall colonial.
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Located in the coveted Woodmoor neighborhood, at just under 1,300 square feet, and boasting three bedrooms, this is truly a beautiful place to call home.
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With an oversized screened-in porch and direct access to the fully fenced backyard, the outdoor living space is unmatched.
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The kitchen has been fully renovated as well: Stainless steel appliances, stone countertops, and a full pantry with access to an oversized recreation room.
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Located just a couple of minutes from major commuter routes and just moments away from the very popular Woodmoor Shopping Center, this home in Silver Spring has it all.
Bottom Line
Whether it’s a family home to plant roots or a posh condo with a sweeping view, homeownership can enrich your life in ways beyond the financial investment. It’s evident that there are many options to call home in the $3,000 per month range. We can help you figure out exactly what you can afford and find that perfect place to call home.
You can reach out to <a href="https://www.donnakerrgroup.com/agents/maura/">Maura</a>, <a href="https://www.donnakerrgroup.com/agents/jim/">Jim</a>, or another talented member of our <a href="https://www.donnakerrgroup.com/about/about/">team</a>. Even if you’re not quite ready, we are always happy to talk or provide additional resources. Contact us <a href="https://www.donnakerrgroup.com/contact/">here</a> or check out more information on our <a href="https://www.donnakerrgroup.com/">website</a>.2021-05-19T12:28:00-07:002021-06-29T06:15:19-07:00Donna Kerrtag:donnakerrgroup.com,2012-09-20:7648Selling Your Home In The DMV: Top Questions & AnswersListing Expert Agents Natalie Perez And Susan Kirn Answer The Top Questions Clients Have About Selling Their Homes In The DMV Area.
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Simple changes like on-trend lighting, updated cabinet knobs, and a refreshed backsplash can create a huge impact for buyers.
It’s no secret that the real estate market is booming in the DC Metro area. This surge in real estate success has brought the thought of selling to the forefront of more homeowners’ minds. Listing expert agents <a href="https://www.donnakerrgroup.com/agents/natalie/">Natalie Perez</a> and <a href="https://www.donnakerrgroup.com/agents/susan/">Susan Kirn</a> discussed some of the top questions they hear from their clients in today’s market.
“Hi Donna Kerr Group, I’m a huge fan of the transformations you guys do, but I have a pretty small window of time to sell my home. Doesn’t all that work take a lot of time?” -Brent in <a href="https://www.donnakerrgroup.com/downtown-silver-spring-real-estate/">Silver Spring</a>, MD
At Donna Kerr Group, we are known for showcasing our clients’ homes in the best way possible and our <a href="https://www.donnakerrgroup.com/sellers/transformations/">transformations</a> are a significant part of that process. It is a misconception that it takes a great deal of time and money to transform a home. From our design and staging team to our photography and more, we handle the process from start to finish with our in-house team and a few trusted partners, which is why we produce consistent results seamlessly and can get your home market-ready so quickly. We work with each client’s budget and time frame to work our real estate magic, typically within one to three weeks.
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Our in-house signature twilight photography guarantees that each Donna Kerr Group listing truly shines on the market.
“I know the market is really hot right now for sellers. Do I really need to ‘prep’ my home and stage it to make it ready for the market?” -Cathie in <a href="https://www.donnakerrgroup.com/bethesda-real-estate/">Bethesda</a>, MD
It is a wonderful time to be a seller in the DMV. Homes continue to sell rapidly. With home inventory as low as it is and homes selling so quickly, styling a home for sale may feel unnecessary. At Donna Kerr Group, we know how much our process adds to the bottom line, regardless of what’s happening in the market. Styling your home in simple and effective ways like a fresh paint palette, on-trend lighting, and a quick refresh in your bathrooms and kitchen can significantly improve the bottom line of your home sale. Our houses sell for an average of $22+ per square foot more than non-Donna Kerr Group listings in our main market. Even better, clients don’t have to worry about the process because we manage it for them from start to finish.
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Styling and design maximizes the potential for each home we sell.
“I hear the Spring is the best time to sell, is that true?” -Amy in <a href="https://www.donnakerrgroup.com/takoma-park-real-estate/">Takoma Park</a>, MD<br /><br />Our team of real estate experts understands that there is no such thing as the one “right season” to sell a home. Rather, the “right time” to sell is when it suits the seller best. Currently, the market is proving to be an amazing time to sell. If you’re able to take advantage of it, it could be a truly spectacular opportunity for you as a homeowner. We’re ready to help you through the entire process and make sure you have the resources you need to ensure your <a href="https://www.donnakerrgroup.com/buyers/buying-with-dkg/">home buying experience</a> is just as successful as your home selling experience.
If you have a question about selling your home in the DMV, feel free to contact Natalie and Susan directly at <a href="mailto:sellwithus@donnakerrgroup.com">sellwithus@donnakerrgroup.com</a>. For more information about <a href="https://www.donnakerrgroup.com/sellers/sell-for-more/">selling your home for more</a> or to find out <a href="https://www.donnakerrgroup.com/sellers/whats-your-home-worth/">how much your home is worth</a>, <a href="https://www.donnakerrgroup.com/contact/">our team is ready to serve you</a>.2021-04-05T11:21:00-07:002022-04-04T08:55:22-07:00Donna Kerrtag:donnakerrgroup.com,2012-09-20:7511Styling Your Home Is More Important Than EverListing Agent Specialist Natalie Perez Discusses the Value of Home Transformations in the DMV
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Real estate mogul and business expert <a href="https://www.barbaracorcoran.com/">Barbara Corcoran</a> often says, “Buyers decide in the first eight seconds of seeing a home if they are interested in buying it.” At Donna Kerr Group, we make those eight seconds count and ensure our clients truly make the most of their home sale.
BEFORE
<img src="https://lh6.googleusercontent.com/jlMNSsUAHfY5_5_F9hLY95qyJlhZcYJYaogYxF-uLBVlA5m9WMbHWTLCPJWdzMThBIAFi2eKWtsNwsNiZPyfpXBs8sNP67QDjarh1WgVmEhvFIjpzNrrnB_Xhp5oOle-UcbhG8ws" width="590" height="394" />
AFTER
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Which version makes you want to settle right into your new home?
It’s a great time to be a seller. Market considerations are buzzing in the DC Metro area, as homes continue to sell rapidly. With home inventory as low as it is and homes selling so quickly, styling a home for sale may feel unnecessary. At Donna Kerr Group, we know how much our process adds to the bottom line, no matter what’s happening in the market. Our team sat down with Listing Agent Specialist, <a href="https://www.donnakerrgroup.com/agents/natalie/">Natalie Perez</a>, to discuss the proven ways that Donna Kerr Group gets the maximum offer on homes through our simple and proven <a href="https://www.donnakerrgroup.com/sellers/sell-for-more/">Signature Listing Process</a>.
BEFORE
<img src="https://lh3.googleusercontent.com/cgAJbzA9E3YPKMUDXQhTbk8VJcEScaBuPGg9NZeFHyX8Ev65g8-OFNz8gKbIc7TjyyM5qwMcYr1WJT3EFtbMBrgmTIi1hqp8mj89zrFO6G7s0oTwKmOxchMjrV3JWMtMlApVSXzz" width="624" height="416" />
AFTER
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Another effective transformation by our talented team!
“As home selling specialists, my fellow listing partner, <a href="https://www.donnakerrgroup.com/agents/susan/">Susan Kirn</a>, and I find it frustrating and disappointing when we see other homes online that aren’t being showcased to their full potential. Because, in today’s real estate market, it is more important than ever to make sure that your home is styled to have the best home selling experience and achieve the greatest return.”
Natalie and Susan guide clients through the process of transforming their home so buyers will emotionally connect to it the moment they see it, within the first eight seconds and beyond! That’s why in our market our listings sell for an average of $22 - $43 per square foot MORE than non-Donna Kerr Group listings.
BEFORE
<img src="https://lh3.googleusercontent.com/0L2L7BnBgAy9AjggBzewP4X_G4hlfb-QQBVXkNds45EnrZcYHelYBMkIe7G07DzzCmHqaes_pnsma059Plj3reIdU0VNQH3WvN4f4pO5TMWLYb-MFAhzpp88DlblChOmq8w7Cfv6" width="609" height="404" />
AFTER
<img src="https://lh3.googleusercontent.com/2lU1nmjnHoAnuAfAWkwR2oaxSSggr02Az3W0w8WT9liXECT5ESpIetgIBdhx96BRZ0zk1Ulvdk6_-aq6YHZxX3gH79JXvohwXY6ew7JMcc8ryNI8zgnOfV7QPELvzqH1kMyPjy_-" width="607" height="405" />
It’s obvious which room potential buyers will connect with!
As masters of Donna Kerr Group’s Signature Listing Process, <a href="https://www.donnakerrgroup.com/agents/natalie/">Natalie</a> and <a href="https://www.donnakerrgroup.com/agents/susan/">Susan</a> help clients find the best solutions for their unique home. Natalie says, “Our in-house design team can recommend the right on-trend light fixtures to swap out some of the old ones, the best shade of paint for a fresh coat, source a stone countertop for the kitchen, and potentially advise on a quick refresh of a bathroom to maximize your sale without spending unnecessary money on costly renovations.” These cost-effective solutions can drastically raise the value of a client’s home and increase the amount a buyer wants to pay, netting much more for the seller.
BEFORE
<img src="https://lh5.googleusercontent.com/LYKySb-FkS-0XJng5QKxxifmSJ_kxgYVVOFTkqXAgGlvcZZfgwifpGkXBnna0AHgs6tjOxCPfWHFNEXZDCHUzDloATrnR6ycL4lgyy-8fyehmkni32TLt3zWhDGG8zkpKiye04WO" width="613" height="408" />
AFTER
<img src="https://lh5.googleusercontent.com/WXEePWM_MTAhPtBlfQ_2NKbVpJmW2Gm_WJAmbQvKoX5ivK4-1IvJdfU4YP8vJ_QiYE-l_8DEOfejfdc7R8bHmVNRoVP9rzrWeqQeZmjks4VkbeqxX3Yw8ocf7xOkV5CA1KT8H2Vs" width="613" height="407" />
Who wouldn’t want to work here?
“Once your home is almost ready to hit the market, our in-house design team focuses on a visual layering effect to each space in our clients’ homes, effectively ‘playing on the heartstrings of buyers.’” As Natalie describes it, “Whether your home requires a full stage or a partial stage, we’re here to add the designer touch that today's buyers will fall in love with and ultimately envision themselves calling your home theirs.” Perhaps the most incredible part is, we manage the entire process which is completed in one to three weeks.
BEFORE
<img src="https://lh4.googleusercontent.com/p3MOpYj9B5grRYXiKb_W73QBb23MLAMUSSILibVy_rAmg-F2GZoH8Wze26UGe83kU7i2qlmzgg3mQvo-vteMbWyrtc9vfuovRn3qASaW14Oi31Eatw4Aan03RzR6JRnacdhz1h-t" width="624" height="416" />
AFTER
<img src="https://lh5.googleusercontent.com/BvkzKf3KuCyo1yJjTGuEn7f9ob1agxzFX0haY9F84EhT3LMjx9NiPkiAMbgXqG2BrGRl26kfZo4EIOf5gk1Hdk4sZvISbfka5iXpsUkNV-nVF8B3wmhZg_Bb-Z-V1hl7nUAovYXS" width="624" height="416" style="display: block; margin-left: auto; margin-right: auto;" />
Are you ready to sell your home? Our team is ready to help the right buyer fall in love with your home. <a href="https://www.donnakerrgroup.com/contact/">Contact us</a> so we can help you begin the Signature Listing Process today. 2021-03-11T07:22:00-07:002022-04-04T08:51:40-07:00Donna Kerrtag:donnakerrgroup.com,2012-09-20:5204'The Market' Housing Update for JuneDKG's Monthly Housing Market Update
After a tough few months, things seem to be turning an optimistic corner. But take note. Although economists say Americans are currently in a recession, the situation is far different than the catastrophic chain of events that led to the housing crisis several years ago. <br /><br />The real estate market is holding on strong this month despite many individuals worrying about the state of the economy due to dramatic spikes in unemployment rates related to COVID-19. This current recession is presenting itself with more homeowners enjoying equity in their investment and the ability to trade up, with a shortage of local inventory, and with lenders adhering to stricter processes to avoid flimsy deals.<br /><br />Great news for sellers: Interest rates are low, and buyers are eager fueling a sellers market and competitive offer situations.
Looking ahead, many previously sidelined sellers are beginning the home sale process, which will generate more <a href="https://www.donnakerrgroup.com/buyers/get-first-dibs/">coming-soon homes </a>to help quench the needs of millennial homebuyers making their way to Silver Spring’s suburbs.
Bottom Line
If you’ve been thinking about selling your home, we’re here to help you prepare to sell for more. We can’t wait to hear from you!2020-06-23T10:56:00-07:002022-02-21T14:20:18-07:00Michelle Cianfranitag:donnakerrgroup.com,2012-09-20:5089'The Market' Housing Update MayDKG's Monthly Housing Market Update<br /><br />What a whirlwind month it's been since the<a href="https://www.donnakerrgroup.com/blog/the-market-housing-update-april/"> last time we updated you </a>on the local real estate market.
This month, we wanted to compare what we saw last month versus what we're experiencing in May. As we continue to operate as an essential business, sales are thriving and sellers are enjoying the fruits that a low-inventory market brings. In fact, since the onset of COVID-19 locally in March, The Donna Kerr Group has listed and sold 23 homes!
And, activity has picked up amongst all price points significantly....we're turning a major corner! As we realize that social distancing is our new normal, both buyers and sellers are adapting as they continue to navigate potential real estate transactions.
The biggest takeaway is while the news and other media might have some folks thinking that the real estate market is on a decline, we're here to dispel those myths and give you the facts!
Check out the video!
2020-05-18T10:46:00-07:002022-02-21T13:34:17-07:00Michelle Cianfranitag:donnakerrgroup.com,2012-09-20:4970'The Market' Housing Update AprilWow, this month's market update is certainly unique amidst the world's current circumstances.
This month, we wanted to bring you a special report on how DKG, operating as a deemed essential business, is evolving in response to COVID-19 and what impacts the virus has had on the local housing market.
We've implemented several new policies and initiatives across our brand to keep our community healthy as they buy and sell homes. From innovative virtual open houses to interactive seminars, we're doing everything we can to follow CDC social distancing guidelines as we continue to be of <a href="https://www.donnakerrgroup.com/sellers/client-speak/">service to our clients.</a>
Surprisingly, the market continues to be quite active. Buyers who need or still want to make a move due to work or other life events are fueling a robust seller's market where we've seen several multiple offer situations and record-low days on the market. In fact, during the last week we've had one Silver Spring property go under contract in only three days!
Antsy buyers-- fueled by the Spring timeframe and historically low interest rates-- are competing over very limited inventory, suggesting that now may be as good a time as ever to list your home!<br /><br />
<a href="https://share.hsforms.com/1gl6C7Xf-SMm5iOz87v9NLw33662?__hstc=64319930.a4fdb4badb59531cbb451d9195c99f89.1590326551229.1591605307087.1591620811473.36&__hssc=64319930.1.1591624023059&__hsfp=1259708029&hsCtaTracking=ac101654-fa54-4f94-8cd1-1eb1bf55897b%7C19b48cba-9e37-4e12-939b-30936d83d0e4"><img src="https://assets.site-static.com/userfiles/1897/image/Blog/ac101654-fa54-4f94-8cd1-1eb1bf55897b.png" width="284" height="84" /></a>2020-04-16T11:11:00-07:002022-04-11T14:20:59-07:00Michelle Cianfrani